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Income tax and Audit

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(Querist)
16 April 2010 I am doing the Statutory Audit of one PSU .During the Audit I found that they had made payment of Rs.97000 for Printing & Supplying the the Table Diaries (i.e 1500 Nos.)

Whether TDS is deducted from this payment or not?

Plz help me.....
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CA. Ashish Bihani

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CA. Ashish Bihani (Expert)
16 April 2010 In my opinion, yes it has to be deducted..
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
16 April 2010 As per circular No 714 dated 03-08-1995 :


1Question 15 : Whether section 194C would apply in respect of supply of printed material as per prescribed specifications ?
Answer : Yes.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
16 April 2010 w.e.f 01/10/2009 tax need not be deducted under section 194C on such transactions. The circular cited by Basal Ji is based on the pre amended section 194C.
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CA. Ashish Bihani

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CA. Ashish Bihani (Expert)
16 April 2010 Thank you Sir for your expert views..
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
16 April 2010 Agree with experts.
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CA Mahesh Vekariya

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CA Mahesh Vekariya (Querist)
19 April 2010 Thank you to all for helping me....
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